Quarterly report pursuant to Section 13 or 15(d)

Trading Securities, at Fair Value (Notes)

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Trading Securities, at Fair Value (Notes)
 3 Months Ended
Mar. 31, 2014
Trading Securities, at Fair Value [Abstract]  
Trading Securities, at Fair Value
Trading Securities, at Fair Value
The Company holds U.S. Treasuries in a TRS and classifies these securities as trading instruments due to short-term investment objectives. As of March 31, 2014 and December 31, 2013, the Company held U.S. Treasuries with an amortized cost of $996.5 million and $996.1 million, and a fair value of $1.0 billion and $1.0 billion, respectively, classified as trading securities. The unrealized gains included within trading securities were $3.8 million and $4.1 million as of March 31, 2014 and December 31, 2013, respectively.
For the three months ended March 31, 2014, the Company sold trading securities for $98.6 million with an amortized cost of $98.2 million, resulting in realized gains of $0.4 million on the sale of these securities. The Company did not sell any trading securities during the three months ended March 31, 2013. For the three months ended March 31, 2014 and 2013, trading securities experienced change in unrealized losses of $0.2 million and change in unrealized gains of $17,133, respectively. Both realized and unrealized gains and losses are recorded as a component of (loss) gain on investment securities in the Company’s condensed consolidated statements of comprehensive income.
At March 31, 2014 and December 31, 2013, the Company pledged trading securities with a carrying value of $1.0 billion and $1.0 billion, respectively, as collateral for repurchase agreements. See Note 16 - Repurchase Agreements.